20 terms

probability experiment

an action or trial through which specific results are obtained

outcome

the result of a single trial in a probability experiment

sample space

the set of all possible outcomes of a probability experiment

event

a subset of the sample space

tree diagram

a visual display of the outcomes of a probability experiment by using branches

simple event

an event that consists of a single outcome

Fundamental Counting Principle

the number of ways that events can occur in sequence is found by multiplying the number of ways one event can occur by the number of ways the other event(s) can occur

Classical (Theoretical) Probability

each outcome in a sample space is equally likely to occur

Empirical (statistical) Probability

based on observations obtained from probability experiments

Law of large numbers

as an experiment is repeated over and over, the emperical probability of an event approaches the theoretical probability of the event

range of probability rule

the probability of an event is between 0 and 1

complement of an event

the set of all outcomes in a sample space that are not included in the given event

odds of winning

the ratio of the number of successful outcomes to the number of unsuccessful outcomes

odds of losing

the ratio of the number of unsuccessful outcomes to the number of successful outcomes

conditional probability

the probability of an event occurring given that another event has already occurred

independent events

the occurrence of one of the events does not affect the probability of the occurrence of another event

dependent events

the occurrence of one of the events affects the probability of the occurrence of the other event

mutually exclusive events

2 events that cannot occur at the same time

permutation

an ordered arrangement of objects

combination

a selection of objects from a set without regard to order